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List of FIO traders who have passed the ONEUP Trader Evaluation or funded


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List of FIO traders who have passed the ONEUP Trader Evaluation or funded

  #51 (permalink)
 
matthew28's Avatar
 matthew28 
United Kingdom
 
Experience: Beginner
Platform: Bookmap
Broker: Stage 5, Rithmic
Trading: US Equity Index Futures
Posts: 1,250 since Sep 2013
Thanks Given: 3,500
Thanks Received: 2,532

Lots of good points in the above posts.
I haven't tried OneUp, but have tried a competitor. I have never seen any posts for these type of funding companies where somebody claims they haven't been able to withdraw money that they have made once live. I have read lots of whiny posts from people who weren't able to pass of who hit their loss limits once they had done so. But most posts I read seem to be people happy enough with the companies even when it doesn't work out for them (at least those people who were competent enough to actually read the relevant rules and information before starting). The lack of major criticism and disgruntled customers that I have seen for them I find fairly impressive considering that being a trading related company must be a pretty thankless task as the vast majority of their customers will never achieve the success that they are working towards and paying for (lets say 80%, in the same way that self funded traders won't).

And the concept that these companies are bad because they probably make a large percentage of their profits from the tests seems bizarre to me. They are businesses, I want them to be successful, especially if I am being backed by one of them. MES started out with free tests and a 50% profit split for funded traders. So the funded traders were supporting the freeloaders. When that presumably proved unsustainable they changed name and came back with a paid for model that increased the profit split for those that passed. I know which model I would choose to remain with if I was funded. Short term trading of derivatives is pure capitalism, it is about making money and that is it. People who want to trade (and make themselves lots of money), but complain about trading companies wanting to make a profit themselves by charging for their services or trading products............really, WTF

I think mbondiett's point "...what stands out even more that people should pay attention to is the fact that although you burned through $10K, when you finally got focus you were able to battle back and win back half your total out of pocket expenses in less than 6 weeks!!!!!!" ,is easily overlooked. With a level of consistency money can be made back pretty quickly. More so starting small and increasing size as the account grows. There is no faster way to not make it than trying to make it quickly from the beginning.
There have been a number of webinars recently where presenters have emphasised the likely learning time required before becoming consistently profitable, as likely to be a few years for an independent trader trying to work it out for themselves. I have spent a fair amount of my money on these types of tests, and the alternative of opening an account and just sim trading is always mentioned as being free, but nobody sim trades for months on end or even a year or two. They invariably go live too early because they are tired of putting the work in and not making anything for it when their real account is sat there right next to the Sim one, and then their small account quickly spirals down to nothing. I imagine the number of retail trader that have learnt to trade without it costing them anything must be miniscule.

You do not win as a trader, you just get to play again the next day. If that game doesn’t appeal to you then you should not trade. Gary Norden
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  #52 (permalink)
 
sstheo's Avatar
 sstheo 
Holladay, Utah, USA
 
Experience: Intermediate
Platform: Multicharts
Broker: AMP/CQG
Trading: MES, MYM, MNQ, M2K
Posts: 285 since Oct 2012
Thanks Given: 198
Thanks Received: 1,490


ratfink View Post
Great detailed information in this story, many thanks and best wishes for continued success @sstheo.

I too have learned much (usually about myself) from half a dozen failed combines over the years, it would have cost me 15-20X in real account(s).

I never thought of the TST rules as either inconvenient or unfair - let's face it, monkey brain and bad trading can get past any rules. However, the best rule I made for myself and stuck to is a simple one - No Resets. I seriously commend it to others following the evaluation route.

Always let the current subscription expire and use the remaining time for practice and development - as if you were still trading with intent to pass, and only then start a new evaluation. TST now make it click easy to set a current subscription to 'Cancelled' status on their billing webpage, after which it just expires itself at the end of the current month, so no worries about undesired repeat billing.

I don't yet know about OneUp or E2T, haven't used the former and only just started with the latter.

Best Wishes and Happy Easter, now back to the garden.

I really love your idea of "no resets" and running out the time sim trading. It is awesome. I will now include that in my list of imperatives when discussing things with new and frustrated traders who have opted to try the combine/evaluation route. Have fun in the garden.

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  #53 (permalink)
 
sstheo's Avatar
 sstheo 
Holladay, Utah, USA
 
Experience: Intermediate
Platform: Multicharts
Broker: AMP/CQG
Trading: MES, MYM, MNQ, M2K
Posts: 285 since Oct 2012
Thanks Given: 198
Thanks Received: 1,490



matthew28 View Post
Lots of good points in the above posts.
I haven't tried OneUp, but have tried a competitor. I have never seen any posts for these type of funding companies where somebody claims they haven't been able to withdraw money that they have made once live. I have read lots of whiny posts from people who weren't able to pass of who hit their loss limits once they had done so. But most posts I read seem to be people happy enough with the companies even when it doesn't work out for them (at least those people who were competent enough to actually read the relevant rules and information before starting). The lack of major criticism and disgruntled customers that I have seen for them I find fairly impressive considering that being a trading related company must be a pretty thankless task as the vast majority of their customers will never achieve the success that they are working towards and paying for (lets say 80%, in the same way that self funded traders won't).

And the concept that these companies are bad because they probably make a large percentage of their profits from the tests seems bizarre to me. They are businesses, I want them to be successful, especially if I am being backed by one of them. MES started out with free tests and a 50% profit split for funded traders. So the funded traders were supporting the freeloaders. When that presumably proved unsustainable they changed name and came back with a paid for model that increased the profit split for those that passed. I know which model I would choose to remain with if I was funded. Short term trading of derivatives is pure capitalism, it is about making money and that is it. People who want to trade (and make themselves lots of money), but complain about trading companies wanting to make a profit themselves by charging for their services or trading products............really, WTF

I think mbondiett's point "...what stands out even more that people should pay attention to is the fact that although you burned through $10K, when you finally got focus you were able to battle back and win back half your total out of pocket expenses in less than 6 weeks!!!!!!" ,is easily overlooked. With a level of consistency money can be made back pretty quickly. More so starting small and increasing size as the account grows. There is no faster way to not make it than trying to make it quickly from the beginning.
There have been a number of webinars recently where presenters have emphasised the likely learning time required before becoming consistently profitable, as likely to be a few years for an independent trader trying to work it out for themselves. I have spent a fair amount of my money on these types of tests, and the alternative of opening an account and just sim trading is always mentioned as being free, but nobody sim trades for months on end or even a year or two. They invariably go live too early because they are tired of putting the work in and not making anything for it when their real account is sat there right next to the Sim one, and then their small account quickly spirals down to nothing. I imagine the number of retail trader that have learnt to trade without it costing them anything must be miniscule.

Well said on all points. Even though I have spent $10k plus, I have nothing but optimism. I feel like I have paid my dues enough to at least squeak out $1000 per month, if not $1000 per week. And I think this optimism pervades my writing in this thread and in my journal. At least I hope it does. And I hold no animosity at all toward TST or OneUp.

As humans, we all seem to be wired similarly, so I bet you are right-- "the number of retail trader that have learnt to trade without it costing them anything must be miniscule."

Interestingly, tomorrow I begin a test. I invited a friend of mine to watch me trade. He was a big trader 20 years ago, and had $1M in his account. But he had a HUGE technical error with a big Greenpan news release and the market blew past his stop and took out most of his funds in one day.

But this is what is fascinating to me--my friend is wired differently from most of us. He has a functional level of OCD. For example, he always has to have two scoops of ice cream, and he has to kiss his wife an even number of times during the day. LOL) And he says that he is able to trade without any emotion. Imagine that!!!

Trading technology has changed tremendously in 20 years, but the support and resistance levels in the market and the emotional responses of fear and greed are permanent fixtures in the markets. So I am intrigued by how this might turn out. The trading acumen he had previously displayed might come right back to him like riding a bike, OR he might crash and burn like the best of us. Any predictions?

And if he likes what he sees, should I encourage him to try TST or OneUp, or should I tell him to just trade sim until he can go live?

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  #54 (permalink)
 
bobwest's Avatar
 bobwest 
Western Florida
Site Moderator
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
Frequency: Several times daily
Duration: Minutes
Posts: 8,162 since Jan 2013
Thanks Given: 57,333
Thanks Received: 26,267


sstheo View Post
And if he likes what he sees, should I encourage him to try TST or OneUp, or should I tell him to just trade sim until he can go live?

Up to him, of course. But he might like to know that this option is available. It wasn't back in the old days, and who knows, he might like it.

Bob.

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  #55 (permalink)
 
bobwest's Avatar
 bobwest 
Western Florida
Site Moderator
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
Frequency: Several times daily
Duration: Minutes
Posts: 8,162 since Jan 2013
Thanks Given: 57,333
Thanks Received: 26,267


matthew28 View Post
I have read lots of whiny posts from people who weren't able to pass of who hit their loss limits once they had done so. But most posts I read seem to be people happy enough with the companies even when it doesn't work out for them (at least those people who were competent enough to actually read the relevant rules and information before starting).

I absolutely love this entire post, but I love the part I quoted the best.

Whining is something that grown-ups who have enough money to trade -- or who aspire to -- should just get over.

Trading is not going to work out for most people, until either it does or they decide it's not for them. Blaming the company that is testing you is not going to help anyone make progress.

There should be an end to whining at some point. If someone doesn't like the rules, don't start. If you have real losses (well, real sim losses), don't blame the scorekeeper. If you don't like the company, no matter why, move on. Even if they're as mean and unfair as the whiners say. Life is too short for nonsense.

Oh, but I forget, this is the internet.

Sorry about the rant. It's been bottled up for a while and I just had to let it out.

Bob.

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  #56 (permalink)
 
matthew28's Avatar
 matthew28 
United Kingdom
 
Experience: Beginner
Platform: Bookmap
Broker: Stage 5, Rithmic
Trading: US Equity Index Futures
Posts: 1,250 since Sep 2013
Thanks Given: 3,500
Thanks Received: 2,532


sstheo View Post
Interestingly, tomorrow I begin a test. I invited a friend of mine to watch me trade. He was a big trader 20 years ago, and had $1M in his account.

That will be interesting. Let us know in your journal what his thoughts are (if your friend is happy for you to say).
Happy Easter folks.

You do not win as a trader, you just get to play again the next day. If that game doesn’t appeal to you then you should not trade. Gary Norden
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  #57 (permalink)
 
matthew28's Avatar
 matthew28 
United Kingdom
 
Experience: Beginner
Platform: Bookmap
Broker: Stage 5, Rithmic
Trading: US Equity Index Futures
Posts: 1,250 since Sep 2013
Thanks Given: 3,500
Thanks Received: 2,532


bobwest View Post
Sorry about the rant. It's been bottled up for a while and I just had to let it out.

Thanks Bob, glad you liked my post.
Some posts raise my blood pressure too. Life's too short to be reading or discussing them these days, if it wasn't ever. One of the reasons I add people to my ignore list, great feature of the forum, up to 107 now LOL (though probably 95% of them don't post anymore anyway).
Going out to enjoy the sunshine.

You do not win as a trader, you just get to play again the next day. If that game doesn’t appeal to you then you should not trade. Gary Norden
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  #58 (permalink)
 
bobwest's Avatar
 bobwest 
Western Florida
Site Moderator
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
Frequency: Several times daily
Duration: Minutes
Posts: 8,162 since Jan 2013
Thanks Given: 57,333
Thanks Received: 26,267


matthew28 View Post
Thanks Bob, glad you liked my post.
Some posts raise my blood pressure too. Life's too short to be reading or discussing them these days, if it wasn't ever. One of the reasons I add people to my ignore list, great feature of the forum, up to 107 now LOL (though probably 95% of them don't post anymore anyway).
Going out to enjoy the sunshine.

I don't have anyone on my ignore list. I just yell at them.

There's always a chance they'll eventually say something worthwhile I will want to see, and besides, as you say, the ones that offer no value generally stop posting here and move on.

Enjoy your day. I will too.

Bob.

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  #59 (permalink)
 omttrdr 
London and UK
 
Experience: Intermediate
Platform: Sierra Chart, MT4
Broker: Infinity
Trading: Forex, NQ, CL, FDAX
Posts: 5 since Apr 2011
Thanks Given: 6
Thanks Received: 6


sstheo View Post
@mbondiett, thanks for your nice words. I am being open and honest, and maybe to a fault some would say.

Here is my record. Too personal? Probably. You really opened up a can of worms on this one! But I really want to help people either RUN AWAY now, or listen to me when I tell them what to do to succeed (here and in my MES journal).

TOPSTEP. I did multiple combines with TST. I just now logged in to their site, but my old history is gone. But I am sure I spent at least $1,500 or $2,000 total. I just couldn't make it work, but I really liked the model. I probably tried for two who years off and on. Part of my problem with them was that they had lots and lots of rules about trading that didn't fit my style.

MES Capital. So when MES came along and I read they didn't care about all the same rules, and they were free, I went for it. But I failed. They would not let me try again for 6 months.

ONEUP TRADER. Then when MES hired (or formed?) OneUp Trader and gave a discount coupon to try, I was all in. Here are the journeys to my 4 live accounts:

1) I started on June 18, 2017 for $75 with a $50k account. On July 9 I did a reset for $100. On July 12 I did a reset for $100. On July 18 I paid another monthly $75 fee. Then I passed!!! I signed the live account agreement on August 10, 2017. -- But I failed within the first week. It was either because I hit the max draw down OR because I open up a trade 15 seconds after a prohibited news report instead of waiting the full minute. I felt pretty stupid. And I was down over $350 in fees.

2) However, having just had a live account, my confidence was up, and I signed up for another evaluation on August 16. But this time I went for a $150k account. This cost me $263 using a discount coupon because I was a repeat customer. I then paid the $263 for 6 months and did several resets in there. My second funded account began on March 3, 2018. But that one only lasted a week as well. What was I doing wrong???

3) "Man I am so close to cracking this nut; I need to try again." So I did another $263 and a couple resets and got funded on April 24, 2018. But then, I failed to stay alive on that one too. Remember what the market looked like in 2018 with MASSIVE moves down up down up. "THREE STRIKES I'M OUT" I said to myself in intense frustration, and I swore never to do OneUp or TST again.

4) But 6 months passed. You guess it: I decided to try again. I paid $315 for another $150k evaluation on October 16, 2018. After several resets for $100, I still couldn't pass. In late 2018, recall that the market was in a free-fall. I just couldn't keep up with it! But having been funded 3 times before, I knew I could do it. I figured out that maybe I was just taking on too much risk. So finally on Feb 12, 2019 I lowered my subscription rate to a $50k evaluation. This account size forced me to trade with fewer positions. And it worked! After just one reset I PASSED and signed for my current live account last month.

[GAGGING HERE] I added up all the expenses, and all together, I dropped over $7,500 into OneUp Trader's lap. This is totally NUTS! Wow. And unfortunately, it looks like I am not alone. I saw a study that showed that the average TST combine trader paid $3,800 total. But I was easily double this on OneUp. And yes, I am very embarrassed to share this story. But maybe someone can benefit.

So I am in my fourth live account now. It took me 14 whole months of trading at OneUp/MES to get here. Based on the number of resets I took and the number of resets that I hear about in the evaluation chat room, I believe that TST and OneUp are making an ungodly killing. Between the two, I probably personally spent over $10,000 over the past few years.

So whether you want to try TST or OneUp, LEARN FROM ME NOW. LISTEN TO ME--or fail miserably like 80% of all traders. Alternatively, take $10k, put it in a brokerage account, and trade with it on your own carefully and keep all 100% of your profits.

Ready? Here we go--

(A) Practice on a sim account first. One Up will give you a free 14 day trial on a $100k account. Practice on another sim account after that. Practice until you can make profits 3 days in a row and the week is positive at the end.

(B) Go for the $50k account with a max of 6 positions. For the money, and the potential upside, I think it is a better deal than the $25k account. Unless your confidence is really high, at this stage paying for a $150k account (or higher) is really just a waste of money.

(C) Take your time! People are rushing to reach the monetary goal on the evaluation, and so they take big risks to get there much faster than is needed. Why? Because they don't want to pay the next month's fee! So they take big risks and then blow it and have to pay a reset, plus then they still have the next months fee anyway! If you take your time and don't finish in 15 days (which is the minimum not the maximum) then yes, you may pay another monthly fee. But you have avoided paying a reset fee AND starting the clock all over again. So what does it mean to "take your time?" With a $50k account the evaluation goal is $3000 that is $200 per day average at the fastest. But there is no maximum time. So $100/day has you reaching the goal in 30 trading days, or 6 weeks. So with just $300 in fees total, you did it! This is what I mean by taking your time. And what is $50/day? That is $450 in total fees and 3 months. Still WAY better than how I did it and how most people do it.

(D) Trade with just one contract. I think this is the secret to a successful evaluation. Especially with the current market volatility, one contract can easily get you to the goal, even in just one month. Almost all of my failures have been because I was trading with too many contracts. If you can't make 1 contract work, how can you make 2 or 3 or 4 work?

(E) Set a stop loss and keep it. This has been my biggest personal failing, even with just 1 contract. Despite your best efforts the market will try to shake you out. And it WILL keep going in the same direction longer that you ever thought possible. Trust me. And without the stop, you are absolutely committing suicide. On a $50k account, just 4 losing trades of $600 will kill the account. You have got to either get out immediately whenever a trade turns OR set a stop for $100, $150, or $200 and seriously honor it. You have to put your ego aside in this game. Listen to what the market is telling you. GET OUT of your losing position. You are here to make money, not be right. And most importantly, if you are convinced "the market is about to reverse" you can always get back in!!! But cut that bad trade short, take a deep breath, walk away from the computer, and come back refreshed to reassess the price action. You must stay alive to trade another day.

I have a lot more to say, but this post is already long enough. I will say more over time on my MES Journal page.

This is probably way more than you wanted to hear. But now it's done.

I am now 5 weeks into my live account and have made close to $5,000. Just $5,000 more and I can call it a break even adventure (I will have earned back the $10k I spent over the last few years on combines and evaluations). Then on to $15,000 and $20,000. Then I will have something to write home about....

SStheo, thanks so much for a very realistic and reliable account of what it took to pass OneUp. I will probably be coming down that path as well as soon. Your note is very helpful. Thanks

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  #60 (permalink)
 omttrdr 
London and UK
 
Experience: Intermediate
Platform: Sierra Chart, MT4
Broker: Infinity
Trading: Forex, NQ, CL, FDAX
Posts: 5 since Apr 2011
Thanks Given: 6
Thanks Received: 6



sstheo View Post
Trading technology has changed tremendously in 20 years, but the support and resistance levels in the market and the emotional responses of fear and greed are permanent fixtures in the markets. So I am intrigued by how this might turn out. The trading acumen he had previously displayed might come right back to him like riding a bike, OR he might crash and burn like the best of us. Any predictions?

And if he likes what he sees, should I encourage him to try TST or OneUp, or should I tell him to just trade sim until he can go live?

If he can forget his past experience, he should simply follow your guidance on the best approach.i.e Sim first, then trade small and give oneself 2-3 months to pass the Test.

He will very quickly find his previous experience will accelerate his performance and reading of price action.

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